Octadecanedioic Acid (ODDA) Market Size (2024 - 2029)

The Octadecanedioic Acid market is anticipated to experience growth driven by the increasing demand for its use in polymer synthesis and the cosmetics sector. Despite challenges such as high costs and the impact of the COVID-19 pandemic, the market is poised for expansion, particularly due to the rising trend towards sustainable and eco-friendly products. The polyester polyols segment is expected to lead the market, given its significant application in polymer manufacturing. The Asia-Pacific region, especially countries like China and India, currently holds a dominant position in terms of market consumption.

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Market Size of Octadecanedioic Acid (ODDA) Industry

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Octadecanedioic Acid Market - Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 4.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Octadecanedioic Acid (ODDA) Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Octadecanedioic Acid Market Analysis

The market for Octadecanedioic Acid (ODDA) is expected to grow at a CAGR of over 4% during the forecast period. Major factors driving the market studied are increasing demand of octadecanedioic acid for synthesis of polymers and rising demand from cosmetics segment. On the flipside, high cost of the product and unfavourable conditions arising due to COVID-19 outbreak are the major restraints, which are expected to hinder the growth of market.

  • Growing trend for sustainable and environment friendly products to reduce the dependency on petrochemical products is expected to offer various lucrative opportunities for the growth of market.
  • By application, polyester polyols segment is expected to dominate the market owing to the increase in the usage of octadecanedioic acid as an intermediate for manufacturing various types of polymers.
  • Asia-Pacific region dominated the octadecanedioic acid market across the globe with the largest consumption from countries such as China and India.

Octadecanedioic Acid Industry Segmentation

The Octadecanedioic Acid (ODDA) market report includes:

Application
Polyester Polyols
Powder Coatings
Cosmetics
Lubricating Oils
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Octadecanedioic Acid (ODDA) Market Size Summary

The octadecanedioic acid market is poised for significant growth, driven by its increasing application in polymer synthesis and the rising demand from the cosmetics industry. This long-chain dicarboxylic acid is essential in manufacturing various polymers such as polyurethane and polycarbonates, which are valued for their superior properties like solvent resistance and hydrolytic stability. The polyester polyols segment, in particular, is expected to lead the market due to its extensive use in engineering polymers. Despite challenges such as high product costs and the lingering effects of the COVID-19 pandemic, the market is buoyed by the growing trend towards sustainable and eco-friendly products, reducing reliance on petrochemicals.

The Asia-Pacific region is anticipated to dominate the octadecanedioic acid market, with countries like China and India at the forefront due to their burgeoning automotive and construction sectors. The demand is further bolstered by its use in personal care, cosmetics, and pharmaceutical applications, as well as its role as a thickener in grease compositions. The region's focus on bio-based products, supported by stringent environmental regulations, is expected to enhance market growth. Key players in this consolidated market include Elevance Renewable Sciences, Inc., TCI Chemicals (India) Pvt. Ltd., and Nanjing Chemlin Chemical Industry Co., Ltd., among others, who are instrumental in driving the market forward.

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Octadecanedioic Acid (ODDA) Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Octadecanedioic Acid for Synthesis of Polymers

      2. 1.1.2 Rising Demand from Cosmetics Segment

    2. 1.2 Restraints

      1. 1.2.1 High Cost of the Product

      2. 1.2.2 Unfavourable Conditions Arising Due to COVID-19 Outbreak

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porters Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Polyester Polyols

      2. 2.1.2 Powder Coatings

      3. 2.1.3 Cosmetics

      4. 2.1.4 Lubricating Oils

      5. 2.1.5 Others

    2. 2.2 Geography

      1. 2.2.1 Asia-Pacific

        1. 2.2.1.1 China

        2. 2.2.1.2 India

        3. 2.2.1.3 Japan

        4. 2.2.1.4 South Korea

        5. 2.2.1.5 Rest of Asia-Pacific

      2. 2.2.2 North America

        1. 2.2.2.1 United States

        2. 2.2.2.2 Canada

        3. 2.2.2.3 Mexico

      3. 2.2.3 Europe

        1. 2.2.3.1 Germany

        2. 2.2.3.2 United Kingdom

        3. 2.2.3.3 Italy

        4. 2.2.3.4 France

        5. 2.2.3.5 Rest of Europe

      4. 2.2.4 South America

        1. 2.2.4.1 Brazil

        2. 2.2.4.2 Argentina

        3. 2.2.4.3 Rest of South America

      5. 2.2.5 Middle-East and Africa

        1. 2.2.5.1 Saudi Arabia

        2. 2.2.5.2 South Africa

        3. 2.2.5.3 Rest of Middle-East and Africa

Octadecanedioic Acid (ODDA) Market Size FAQs

The Octadecanedioic Acid (ODDA) Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Elevance Renewable Sciences, Inc. , TCI Chemicals (India) Pvt. Ltd. , Hunan HuaTeng Pharmaceutical Co., Ltd. , Nanjing Chemlin Chemical Industry Co., Ltd. and XIAMEN SINOPEG BIOTECH CO., LTD. are the major companies operating in the Octadecanedioic Acid (ODDA) Market.

Octadecanedioic Acid Market Report Snapshots

Octadecanedioic Acid Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)